Forex Trading Library

DAX – Limited rallies

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Monthly: Broken out of the Ending Wedge formation to the downside. The measured move target is 8685

Weekly: We have seen a strong correction to the upside. This could now be seen as an Expanding Wedge pattern that has an eventual bias to break to the upside. However, with previous support (now resistance) located at 11702 and bespoke resistance at 11800, further rallies could be limited

Daily:  An AB=CD corrective formation could take the index to 11980. We look to sell into rallies

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